16 January 2019 – No Brexit Plan, Volatilities continues
Indices Dow Transportation closed at 9608.30 with a bearish ‘inverted hammer’ candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 157.02. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 24207.16 with an inverted hammer candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 92.33. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Russell 2000 closed at 1454.697 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 15.09. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 closed at 6668.5664 with a small inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 55.355. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
S&P 500 closed at 2616.10 with a small inverted hammer above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 15.46. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Metals and Commodities WTI Crude oil futures (CL) closed at $52.32 per barrel with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 1.26. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Gold futures (GC) closed at 1293.5 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 7.8. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Commodities (DBC) ETF closed at 15.39 with a small bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.13. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Bonds Bond futures (/ZB) closed at 145’11 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.75. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
High Yield bond ETF (HYG) closed at 84.03 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.24. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency The dollar index ($DXY) closed at 96.076 with a bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range was 0.32. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
EUR/USD closed at 1.1390 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 200 SMA. Daily trading range was 0.0046. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. It is in a daily and weekly Squeeze.
USD/JPY closed at 109.07 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.825. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLF, XLY and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLF, XLY and XLI respectively.
Market Internals Market Sentiment is about neutral. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 131.66. Vix is at 19.04 and Vix Futures is at 19.15.
The Week Ahead The market is showing signs of exhaustion for this current cycle and should pull back slightly. Market Internals are still showing strength. Skew is normal. Vix and Vix futures are trending down. The prognosis is for a pause and a quick pullback.
To YOUR wealth! Would you like to learn to trade stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
16 January 2019 – No Brexit Plan, Volatilities continues
Indices
Dow Transportation closed at 9608.30 with a bearish ‘inverted hammer’ candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 157.02. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 24207.16 with an inverted hammer candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 92.33. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Russell 2000 closed at 1454.697 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 15.09. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 closed at 6668.5664 with a small inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 55.355. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
S&P 500 closed at 2616.10 with a small inverted hammer above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 15.46. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Metals and Commodities
WTI Crude oil futures (CL) closed at $52.32 per barrel with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 1.26. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Gold futures (GC) closed at 1293.5 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 7.8. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Commodities (DBC) ETF closed at 15.39 with a small bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.13. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Bonds
Bond futures (/ZB) closed at 145’11 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.75. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
High Yield bond ETF (HYG) closed at 84.03 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.24. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency
The dollar index ($DXY) closed at 96.076 with a bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range was 0.32. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
EUR/USD closed at 1.1390 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 200 SMA. Daily trading range was 0.0046. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. It is in a daily and weekly Squeeze.
USD/JPY closed at 109.07 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.825. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLF, XLY and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLF, XLY and XLI respectively.
Market Internals
Market Sentiment is about neutral. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 131.66. Vix is at 19.04 and Vix Futures is at 19.15.
The Week Ahead
The market is showing signs of exhaustion for this current cycle and should pull back slightly. Market Internals are still showing strength. Skew is normal. Vix and Vix futures are trending down. The prognosis is for a pause and a quick pullback.
To YOUR wealth!
Would you like to learn to trade stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
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